CommonWealth REIT Realizes $240.1 Million from the Sale of Common Shares of Its Former Subsidiary
CommonWealth REIT (NYSE: CWH) today announced that it has sold all of
the 9,950,000 common shares it owned of its former subsidiary Government
Properties Income Trust (NYSE: GOV) at a price of $25.20 per share for
total net proceeds of $240.1 million. The settlement of this sale is
expected to occur on March 15, 2013.
The joint bookrunning managers for this offering are Citigroup, BofA
Merrill Lynch and RBC Capital Markets. The joint lead managers are
Jefferies, Morgan Stanley and UBS Investment Bank. The co-managers are
BB&T Capital Markets, Janney Montgomery Scott, JMP Securities, MLV & Co.
and Oppenheimer & Co.
This communication shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of these
securities in any state in which the offer, solicitation or sale would
be unlawful prior to registration or qualification under the securities
laws of the state. Copies of the final prospectus relating to this
offering may be obtained from the offices of Citigroup, c/o Broadridge
Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717,
telephone: (800) 831-9146; BofA Merrill Lynch, Attn: Prospectus
Department, 222 Broadway, New York, NY 10038; email
dg.prospectusrequests@baml.com; or RBC Capital Markets, Attention:
Prospectus Department, Three World Financial Center, 200 Vesey Street,
8th Floor, New York, NY 10281-8098, telephone: (877) 822-4089.
WARNING CONCERNING FORWARD LOOKING STATEMENTS
THIS PRESS RELEASE INCLUDES FORWARD LOOKING STATEMENTS WITHIN THE
MEANING OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 AND
OTHER SECURITIES LAWS. THESE FORWARD LOOKING STATEMENTS ARE BASED UPON
CWH'S PRESENT BELIEFS AND EXPECTATIONS, BUT THESE FORWARD LOOKING
STATEMENTS ARE NOT GUARANTEED. FOR EXAMPLE, THIS PRESS RELEASE STATES
THAT THE SETTLEMENT OF THE OFFERING OF GOV COMMON SHARES IS EXPECTED TO
OCCUR ON MARCH 15, 2013. IN FACT, THE SETTLEMENT OF THIS OFFERING IS
SUBJECT TO VARIOUS CONDITIONS AND CONTINGENCIES AS ARE CUSTOMARY IN
UNDERWRITING AGREEMENTS IN THE UNITED STATES. IF THESE CONDITIONS ARE
NOT SATISFIED OR THE SPECIFIED CONTINGENCIES DO NOT OCCUR, THIS OFFERING
MAY NOT CLOSE. FOR THESE REASONS, AMONG OTHERS, INVESTORS ARE CAUTIONED
NOT TO PLACE UNDUE RELIANCE UPON FORWARD LOOKING STATEMENTS.
A Maryland Real Estate Investment Trust with transferable shares of
beneficial interest listed on the New York Stock Exchange. No
shareholder, Trustee or officer is personally liable for any act or
obligation of the Trust.
